Bitcoin Price Fluctuations and Fund Inflows Analysis
- Bitcoin Price Fluctuations: Following Iran's reopening of the Strait of Hormuz, Bitcoin surged above $78,000 but fell back to $73,000 due to the US maintaining its blockade, before rebounding to over $75,000, indicating market sensitivity to geopolitical risks.
- Fund Inflow Overview: According to Coinshares, cryptocurrency investment products saw inflows of $1.4 billion last week, marking the third consecutive week of positive growth and the strongest figure since January, reflecting an improvement in investor risk appetite.
- Performance of Bitcoin and Ethereum: Bitcoin's total inflows since the beginning of the year reached $3.1 billion, with the breakout above $76,000 seen as a significant technical development, while Ethereum also performed strongly with inflows of $328 million during the same period.
- Regional Fund Inflow Analysis: The US led with inflows of $1.49 billion, followed by Germany and Canada with $28 million and $8.3 million respectively, while Switzerland experienced outflows of $137.8 million, highlighting differing risk appetites among investors across regions.
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Technical Analysis for ETH
Technical Sentiment Analysis for Ethereum (ETH). As of , Ethereum (ETH) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 3 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ETH stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, ETH is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Ethereum (ETH) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 1886.403 | 2030.701 | 2176.313 | 2320.611 | 2466.223 | 2610.521 | 2756.133 |
| Fibonacci | 2030.701 | 2141.447 | 2209.866 | 2320.611 | 2431.357 | 2499.776 | 2610.521 |
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